DAILY OUTLOOK ON DXYA bullish sentiment on dollar index while other pairs with the dollar will be bearish
USXUSD trade ideas
EUR/USD Short: Bearish Trend with DXY SupportShort EUR/USD at the current market price (CMP). EUR/USD remains in a bearish trend, likely heading for the next leg of the CD pattern. Meanwhile, the DXY is bullish, having retraced from the golden Fibonacci ratio and now appearing poised to continue its next bullish leg.
DXY WAXING STRONG AFTER THE NFP REPORT!DXY is showing a strong buy momentum after the just released NFP report which came out better than expected and higher than previous reports. It’s giving an idea that DXY (USD) might continue to dominate in bullish trend over the other pairs.
Dollar indexlooking for a breakout on the dollar index, this breakout will mean a massive drop on silver and gold and other related currencies. only trade what you can lose, the market will be extreemly volatier in the next 30 minutes
Confluence of Gartley 222, AB =CD and Three Drives to the topAt times they work out perfectly but you must always guard against euphoria. Anything can happen in the market !
Another butterfly pattern with not so perfect fib ratios. Had to wait for other confirmations to get into the trade . CD leg terminated as a measured move of the AB leg and immediately evolved into a Three drives to the top pattern and that was my trigger, entered the trade with a sell limit and a tight stop. So far so good!
Its a scalp trade!
Always trade what you see and practise sound money management.
The chart suggests that the price might experience a retracement
Analysis of the DXY (US Dollar Index) Chart Using Support, Resistance, and Projected Movements
This is a 4-hour timeframe analysis for the US Dollar Index (DXY), highlighting critical support and resistance levels and potential price movements:
Key Levels:
Support Zone:
A strong support zone is identified around 108.000 - 108.500. If the price retraces to this zone, it is expected to find significant buying interest.
Resistance Zone:
The first resistance zone lies between 109.000 - 109.500.
The next resistance zone, which could act as a target, is located around 110.000 - 110.500.
Proposed Movement Pattern (Blue Lines):
The chart suggests that the price might experience a retracement toward the support zone at 108.000 - 108.500.
After hitting the support and confirming a bounce, the price is expected to rally toward the 109.000 - 109.500 resistance zone.
If the resistance at 109.500 is broken, the price could continue its upward trajectory toward the next target at 110.000 - 110.500.
DXY Friday rallyThe DXY has created a double bottom forming a W patten, followed by creating a new Bull flag over the past 2 days.
A break out of the bull flag could see a rally breaking high levels from 2022 at 110.
If a rally to these levels does occur we will need to see bullish out announcements regarding the news over the weekend such as, Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate, Prelim UoM Consumer Sentiment and Prelim UoM Inflation Expectations.
I'd like to see a strong rally to end the week for the DXY, then monitor the news results over the weekend to form my Bias coming into next week on Monday.
DXY Trading JournalDXY Trading Journal
Jan9
Analysis
Price opened in Asia to create and take recent equal lows before seeking higher prices taking out previous days buy stops. London created the high before retracing. High resistance day.
Jan 10
Daily range is in Premium however the session range landed right on the .50%. NFC in NY session. I could see both noted clean equal highs and lows get taken today. I suspect that the highs will swiped then Price will lower to rebalance the FVG.
US Treasury Yield and USD concerns. Market Update 1-8-2024Looking over the 30 yr bond as well as the DXY Chart. Also, breaking down the US equity markets and what possible hurdles we may be facing in the short term.
Something NEW!!1. Identify your htf.
2. Identify a htf bias.
3. Identify your current trading range on your htf.
4. Identify your premium or discount level.
5. Inside your premium or discount level identify your htf point of interest.
6. Wait for price to pull into your htf point of interest.
7. Pop down to a ltf where you'll observe bearish or bullish price action.
8. Wait for the buy model or sell model to play our wait for a market structure shift on the ltf.
9. Look for 2 stack pois like a breaker block coupled with an imbalance
10. Enter at the stacked poi( point of interest) after a market structure shift.
USDX-SELL strat5egy 2D chartThe USDX index is clearly overbought, and secondly we have a negative divergence (see arrows) on our hand. this suggest highly, and also comparing 2016 US elections before and after inauguration, the bias likely will be weaker US dollar. this seems reflected in all currency pairs.
The USDX can move towards 105.00 area is my humble opinion in time.
strategy SELL at 109.00-109.50 and take profit near 105.75.
DreamAnalysis | 2024 Comeback Shakes Markets🌎 Global Market Impact from the US Presidential Election
With ballots still being counted, the financial world is buzzing with anticipation over Donald Trump’s possible return to the White House. This election has set off movements in stocks, the US dollar, forex pairs, and cryptocurrencies, affecting global markets even before an official result is announced.
🚀 Bitcoin Surges to All-Time High
Bitcoin spiked to an unprecedented $75,000 as market confidence grows around Trump’s chances. With Trump’s support for crypto-friendly policies, this is seen as a bullish indicator in the digital assets space.
check the trendIt is expected that the upward trend will continue to form until the specified resistance levels. Then there is a possibility of a trend change
DXY Trading JournalDXY Trading Journal
Jan 6
Execution analysis
Price is delivering to a premium on the M, W, Daily charts.
Yesterday Price delivered from a premium to discount gravitating to the NWOG and noted equal lows, also creating more equal lows. Price then bull rallied to rebalance the H FVG for the finish.
Great delivery.
DXY Trading JournalDXY Trading Journal
Jan 8
Price is delivering to a premium on the M, W, Daily charts.
2 back to back large range days of Price delivery. I suspect that could consolidate during Asia possible London with the onset of 3 red folder scheduled in NY session
that said I suspect that price will come down to the H FVG at the 50% possibly seek the second H FVG at the .79. Price could also be gravitating to the NWOG and seek equal lows noted.
Cool to see Price consolidate around the event horizon and I will be watching for reactions around it as well.
See how Asia plays out and go from there.
US Dollar Index (DXY) Rising Channel IntactChart Analysis:
The US Dollar Index (DXY) continues to trade within a well-defined ascending channel (green-shaded area), signaling sustained bullish momentum.
1️⃣ Ascending Channel:
The DXY is consolidating near the channel's midline, with the upper boundary around 110.00 acting as a potential resistance area.
A breakout above the channel's upper boundary would signal continued bullish momentum, while a retracement to the lower boundary around 106.00 could provide buying opportunities.
2️⃣ Key Support Levels:
The 50-day SMA (blue line) at 106.50 is providing dynamic support, aligning with the channel's lower boundary.
The 200-day SMA (red line) at 104.50 reinforces long-term support.
3️⃣ Momentum Indicators:
RSI: Currently at 62, indicating bullish momentum but shy of overbought levels.
MACD: Momentum remains positive, with the MACD line above the signal line, supporting the bullish bias.
What to Watch:
Monitor the channel's upper boundary for potential resistance or breakout opportunities.
Watch for pullbacks towards the 50-day SMA and lower trendline for potential support levels.
RSI and MACD trends will be key in confirming momentum strength or weakness.
The DXY remains firmly within its bullish structure, with the ascending channel and moving averages providing a clear technical framework for traders to follow.
-MW
DXY: Ascending Triangle topping soon. Excellent sell opportunityThe U.S. Dollar Index is on a steady bullish 1D technical outlook (RSI = 60.447, MACD = 0.640, ADX = 33.835) as with the exception of November's last week, it has been rising nonstop since September 30th 2024. The price is near the HH Zone of the Ascending Triangle, the 1W RSI has double topped and we are, or getting close to, the new long term top. Technically the 1W RSI is already similar to the October 9th 2023 top. The risk now is lower in going short. Aim for the 1W MA200 (TP = 103.000), which was the level that offered the late September support.
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DXYUSD Bearish SignalDXY had experienced an unnatural pump against risk and competition currencies, elation that will no doubt come to an abrupt end soon as my charts do not lie. What would typically be viewed as a large bull flay is indeed a failed auction. This signifies a major upcoming crash of the USDX as inflation has been out of control and the fed has failed to control it. Spending is up and while unemployment remains high the job market and industry remains strong as US GDP outputs remain very high. This could reverse in the summer but at this time price action is toppish and I call a negative reversal to the downside targeting sub $100 ranges.
DYX Monthly vs Crypto & Stocks: The Most Bullish Ever!The DXY is at its most bullish since June 2021. Here we can see it bouncing strongly from EMA55 as support.
We looked at the DXY and how it is related to Bitcoin ( see here ).
Now we want to consider the DXY on its own.
➖ How far up can the DXY go and for how long?
To start, we can see that the last time the DXY went bullish it closed green for four consecutive months. This would be the first green month, so we have another three of potential bullish action.
The bounce in July 2023 also produced four months of growth. Now, the action in the last bounce and back in 2023 were part of a consolidation pattern, what we are seeing now is the start of a bullish wave.
➢ First, within several months, or weeks, the DXY is set to hit 109. Long-term, it can go higher and hit a new All-Time High.
➢ The first long-term resistance will be around 114, which is the September 2022 peak. 111.1 would be an intermediate target.
➢ The new ATH can settle around 124/5. The last ATH was hit around 121.
This is all based on the long-term.
This is the monthly timeframe.
The DXY going bullish can have a very strong negative effect on the stock market and even Cryptocurrency but this is only initially, after several months of the DXY being strongly bullish, the Cryptocurrency market can recover and do great. I don't know about the stock market, it can be different but Crypto will be fine.
Thank you for reading.
Namaste.
it is now looking like a top in the making PEPPERSTONE:USDX the whole euphoria with donald trump is now giving away its price and it is looking like we should have a top here because there is a clear breakout failure so it may decline or it can rest for some time now that looks more likely now rather than carrying the bull trend
DXY Is Going Down! Sell!
Take a look at our analysis for DXY.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 108.155.
The above observations make me that the market will inevitably achieve 107.189 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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DeGRAM | DXY back into the ascending channelThe DXY is in an ascending channel between the trend lines.
The price has reached the expansion level.
We expect a local correction in the channel for further strengthening of the dollar.
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DXY -could the dollar be dropping, what does that mean others?If we see the dollar break this level we could see higher prices with other instruments such as the metals and other cryptos.
Lets watch and see what happens.
